• Splitting Of Freehold To Lease Hold And Splitting Ownership

    By Guest on 16th Mar 2018

    Hi I wonder if anyone can help. I bought a property in partnership with my friend and brother. I have 25% share my brother has 25% share and my friend has 50% share. We bought the property off auction for £870k. We had to borrow £270k from a bridging loan company. The property consists of 2 units . 1 commercial 1 residential. Because my brother and Friend were having credit issues I applied for a BTL mortgage on the residential unit. The mortgage application was accepted on the residential property. I need to now take ownership of the residential lease. The question is what premium should I put on the lease transferring to me. Will I be liable to SDLT. Will I be liable to CGT? ..any help would be most appreciated. Thanks

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